Hyundai Motor India Ltd.
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company, South Korea and is the second largest and the fastest growing car manufacturer in India. HMIL presently markets 31 variants of passenger cars in six segments. The Santro in the B segment, Getz in the B+ segment, the Accent in the C segment, the Elantra in the D segment, the Sonata Embera in the E segment and the Tucson and Terracan in the SUV segment.
The company recorded combined sales of 252, 851 during calendar year 2005 with a growth of 17.26% over year 2004. HMIL is India's fastest growing car company having rolled-out 10, 00, 000 cars in just 90 months since its inception and is the largest exporter of passenger cars with exports of over Rs. 1, 800 crores. HMIL has recorded a growth of 27.2% in exports over the year 2004.
HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts some of the most advanced production, quality and testing capabilities in the country. In continuation of its investment in providing the Indian customer global technology, HMIL has announced plans for its second plant, which will produce 300, 000 units per annum, raising HMIL’s total production capacity to 600, 000 per annum by 2007.
HMIL is investing to expand capacity in line with its positioning as HMC’s global export hub for compact cars. Apart from expansion of production capacity, HMIL plans to expand its dealer network, which will be increased from 157 to 200 this year. And with the company’s greater focus on the quality of its after-sales service, HMIL’s service network will be expanded to over 1, 000 in 2006.
The year 2005 has been a significant year for Hyundai Motor India. It achieved a significant milestone by rolling out the fastest “200, 000th” export car. HMIL exports to over 60 countries globally and made a foray into the highly competitive UK market by exporting its first shipment of 820 cars.
HMIL has many awards in its bouquet. Recently Sonata Embera won "Executive Car of The Year 2006" award by Business Standard Motoring Magazine and Tucson has been declared as "SUV of The Year " by NDTV Profit-Car & Bike awards 2006.The mid-size sedan Accent won two awards, Accent Petrol-No 1 Entry mid-size car and Accent Diesel-No 1 mid-size diesel car by TNS. It was declared “The Star Company” amongst unlisted companies by Business Standard this year. Getz got the coveted “Car of the Year 2005” award twice over. It was declared a winner by both Business Standard Motoring and CNBC-TV18 Autocar Auto awards. Hyundai Elantra won the CNBC-TV18 Autocar “Best Value for Money” Car Award.
HMIL was also the “Manufacturer of the Year” two years in a row in 2002 and 2003. ICICI Overdrive Awards declared Hyundai as the “Car Maker of the Year” in 2003. Hyundai products with state of the art technology have also been winning many accolades over the years. Santro bagged top honours in JD Power Asia Pacific for three years. Accent was ranked No. 1 in J D Power Asia Pacific APEAL for two years and also got Business Standard Motoring Jury award for its CRDi model.
HMIL has also been awarded the benchmark ISO 14001 certification for its sustainable environment management practices.